Filed under: Market Matters, Commodities, ETF
Over the years there have been some strange goings on in the commodity markets. One episode that comes to mind is the attempt by the Hunt brothers of Texas to corner the silver market in the 1970s.
Now we have another strange occurrence. The Financial Times reported that one trader holds 80% to 90% of the copper in the London Metals Exchange (LME) warehouses, valued at about $3 billion. We do know that JPMorgan Chase (JPM) is a big player in the copper market. Whether JPMorgan increased its holdings is not known.
Continue reading Single Trader Dominates Copper in London Metals Exchange
Single Trader Dominates Copper in London Metals Exchange originally appeared on BloggingStocks on Fri, 24 Dec 2010 11:00:00 EST. Please see our terms for use of feeds.
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Full story at http://www.pheedcontent.com/click.phdo?i=4a396b5f4730b325dffb2061cde0579b
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